Member Info for SEA7

MMCAP taking a 14% stake

thanks neversell,

the rise has been fairly steady and no really daft spikes as such - i am sure we will see some good trading opps as we go along.

the one year chart shows this at 299.6 on the 4th march 2020 and we can see the continued down trend in place right until september last year, where the uptrend actually begins - even the drop in jan due to SFO news hasn't really disrupted the uptrend that is in place now.

UT was 136.80 above the close

140 is key - last time it went up through that from a low, it stayed above it and reached 177 in december, dipped back below 140 at the end of december to 136 and dipped back below again early jan to 136 - after this it moved quickly back to 172 in a twelve day period, before that SFO announcement trashed it down to the low of 101.7.

we are seeing the higher highs, higher lows being put in over the last month - based on this pattern, with the last pull back yesterday touching 126 and moving up to 136 today, i would expect 1 of 2 scenarios next week...

1. open up on monday and see the first assault on 140, with potential to hit 1.41 on the offer, then pull back to around the 1.33 mark as profit takers move in, before steadying for the push to stay above 140

2. open down on monday, with a pull back to the 129/131 level before making a run at 140.

at the moment, i see 140 as the big resistance level - if we can turn that into support then 170 is on the cards, however, the two caveats to watch out for with regards weakness are

those accounts -with any post period negatives that we do not know of.
dropping out of ftse250

get past both of those without too much trouble and there isn't really anything to stop this moving up further.

another 850k share buy after hours at 3p

Well said test test -

it is of course possible that PH was advised "in the coming weeks" and they still aren't ready .

i would rather they spend the time getting it right than mess things up trying to adhere to a timeline that they published . I always take those timelines with a healthy dose of scepticism, whether it be block or any other stock

coming weeks - well we have had eight weeks so far and he only said "in the coming weeks" - most of us would assume that the phrase translates into about three to five weeks, so probably overdue by now, however, depends on what they are seeing on site - perhaps they are changing things

whilst we all get upset about the overhang depressing the share price, we should not forget that the business itself is currently in the best position it has ever been in.

about £6m in cash
£664,142 a month in revenue, based on the figs in the rns - which is £7,969,704 annualised.

This gives us £13m of our mcap, which is currently £18m

The Schlum acreage was given a base valuation of around $6m or £4.33m at current exchange rates.

Personally, without the overhang we would be at 4.5p as a minimum in my view.

those "shops" that took a lot of the placing shares will have them sat with brokers, with an instruction "sell in increments at 3.xxp or more. Do not collapse the market and do not drive it below 3p. If the stock goes below 3p - hold and wait until it moves up again, to resume"

This pattern will continue until those shops have cleared their books - they are not in this as shareholders of block, their sole purpose in life is to take part in placings, to assist companies raising capital, for a fee and then to offload all the stock onto the market, to regain their initial layout. Their risk is that they cannot offload at a profit or in a short period of time, however, their fee will cover some of it - hence £5.28 m raised before expenses, in blocks case - I bet that £280k was expenses as Paul said he intended to raise £5m in the proactive investor comments.

if the broker you are using snap cannot provide you the service and fill your orders, then move on from them.

Worth remembering that most brokers do not deal directly with the market when the deal on behalf of retail traders - they poll the RSP's (retail service providers), who hold stock and will deal to the broker.

Some brokers get a better service and their orders filled quicker than other brokers and often at better prices - depends on what you are paying to trade and how good your broker is at filling orders.

ft250 deletion is 22nd March

take hsbc for example...

HSBC FTSE 250 INDEX

HSBC have a straightforward approach to managing this fund. They invest in every company in the FTSE 250 Index and in the same proportion. This is called 'full replication'. It minimises the risk of the fund differing too much from the index. They don't lend shares to other companies, like some other tracker managers do with a view to reduce costs, as this would add risk to the fund.
..................

i wouldn't worry about which funds hold what - horses for courses

yep and some funds just focus on 250 shares, in the same way 100 funds do - which means some forced selling and we will pick up buyers as well.

petrofac customers couldn't care less which index the company sits in - it is irrelevant to them.

couple of percent drop for falling out of the 250 - means nothing - this isn't football.

snap - i have orders set as limit orders on every aim trade i do. Some i get a 15 second quote to accept on, if the lot size is small enough. My larger orders are also limit orders but if they are not executed fully or partially be the end of day close, or in after market trading, then they are killed by 1715 same day.

I rarely get a full kill on an order and am normally filled fully within a few minutes, or partially by the end of day if the market is thin for the size i want, at the price i want.

updated 26th Feb 2021..

Abu Dhabi National Oil Company (Adnoc) has received commercial bids from contractors for its estimated $15bn Hail and Ghasha offshore sour gas field development project, according to industry sources.

https://www.offshore-technology.com/comment/region-makes-unconventional-strides/

Package 1 (offshore) – $3bn
Saipem (Italy) / National Petroleum Construction Company (NPCC, UAE)
McDermott (US) / Tecnicas Reunidas (Spain)
Archirodon (Greece) / Sinopec Engineering (China)
Petrofac (UK)

Package 2 (offshore) – $2bn
Petrofac (UK) / Samsung Engineering (South Korea)
Saipem (Italy) / China Petroleum Engineering & Construction Corporation (CPECC, China) / NPCC (UAE)
Hyundai Engineering & Construction (South Korea)
Archirodon (Greece) / Sinopec Engineering (China)

Package 3 (onshore) – $1bn and $2bn
Samsung Engineering (South Korea) / Petrofac (UK)
Archirodon (Greece) / Sinopec Engineering (China) / Consolidated Contractors Company (Greece/Lebanon)
Dodsal (India)
Tecnimont (Italy)

Package 4 (onshore) – $4bn and $6bn
Petrofac (UK) / Samsung Engineering (South Korea)
Tecnicas Reunidas (Spain) / McDermott (US)
Tecnimont/Larsen & Toubro Hydrocarbon Engineering (India)
Saipem (Italy) / CPECC (China)

End of year ..

we should also note that we may see some selling for CGT purposes this month..end of financial year.

vidacos is through citigroup if i recall

paul bond to lufkin - nope, no direct connection, however they all link into unaoil, which was hired by petrofac years ago and led to lufkin being arrested and charged.

the only connection neversellshell, is that Petrofac used Unaoil, as did SBM